Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-06-18
ENCOURAGING FACTS.
THE DEN0LIsHING OF THB WHEAT AND
COFFEE CLIQURS.
The Market Adjusting Itself 10 Natural Conditions
Iron Weakened Slightly By The Break Of the
Coke Combination and Renewed Production
The State Of the Other Markets.

NEW YORK, June 17.-R. G. Dun &
Co.'s weekly review of trade says: 1t is
most encouraging that two of the great
speculations, by which legitimate business
has for months been embarrassed, have
come to an end without disaster to other
parties save those who invited disaster,
Arnold & Co., in coffee, and Kershaw &
Co., in grain, with number of smaller
operators. But commerce and finance have
not been seriously disturbed. Those who
derided or disputed the wheat statistics
given three months ago in this review"
can now see whether those figures were
more correct than the estimates of the
speculative ring. March 19 the review
said that the surplus in excess of the
years home demand and 104, ,000, 00Obush-
els already exported was more than 9O,-
600, 900 bushels" Spectators ridiculed
this warning, but 40, 600, 900 bushels more
have been exported TO date, and the home
demand has been satisfied, and within
thirteen days Of the end of the crop year,
the "visible supply" Of wheat is ~, 1l2,-
lie bushels, besides all the wheat in the
farmers hands and country elevators and
all the flour in the country. For the first
time since February Chicago was selling
wheat for export on Tuesday and the mar
ket is now gradually adjusting itself to
natural conditions Sales of wheat here
reached 96, 1877, 600 bushels, and Of coffee
/, ,272, 900 bags. In both markets liquida-
tion is progressing with more quiet feel
ing.
THE IRON MARKET
is somewhat weakened in tone by the
breaking of the coke combination and re-
newed production of some furnaces which
have been banked"
Cotton yielded but little when other
speculation broke, though crop reports are
everywhere reported the most favorable for
seven years. With 2 per cent increase in
acreage, yield the largest known by 30O,-
600 bales may result, and the price of raw
cotton is held at 20 per cent above that of
November !, with print cloths lower than
at that time. Distrust of current prices
affects dealings in goods to some extent,
though the demand is still healthy and
strong. Higher prices for wool at London
sales, with stiff prices at the West, dis
hearten manufacturers who complain of
heavy imports OF woolen goods classi-
fed as worsteds and admitted at low
duties. Reports from many points, though
almost uniformly favorable as TO the vol
ume of trade for the season, and exceeding
ly hopeful AZ TO the future, begin to note
stringency of money in several directions
At Cleveland, because of large demands, at
Nashville, because Of real estate operations,
and at Detroit because of the wool move
ment. Chicago bankers, in view of larger
demands from legitimate customers than
were expected, regret that so much has
been tied up in wheat loans. Collections
are reported satisfactory at most points.
about the average at Kansas City, only
fair at Denver, Galveston, Omaha and
mot so gOod'' at St Paul, where build
ing strike keeps 2, ZOO men,idle. The ore
handlers strike also disturbs shipments at
Cleveland. From Little Rock it is rated
that Arkansas real estate has advanced 100
per cent in the past year.
FOREIGN TRADE
is not improving in balance. May showed
a decrease of $40, $50, 600 in exports of cot
ton, and 81, 400, 900 in provisions and cat
tie, while imports at New York were 16
per cent larger than last year. There is a
slight reduction in raw and advance in re-
fined sugar. Leather is quiet, with some
yielding in quotations, though the fair
business done by boot and shoe makers
promises improvement. Railroad earnings
continue excellent, and stocks yield but
little in price The Interstate Commerce
Commissioners latest decision is not yet
clearly understood here or abroad, but its
effect is TO cause some hesitation.
The business failures during the last
seven days number for the United States
1913, for Canada %, total 2l3, compared
with 173 last year and for the correspond
ing week last year 155.